Dubai, UAE, 11 October 2020: Withsupport from the Office of the Commissioner of Data Protection at Dubai International Financial Centre (DIFC), PwC Middle East has launched an innovative online solution to help organisations comply with the recently announced DIFC Data Protection Law . TheDIFC data privacy assessment provides organisations with bespoke reports outlining their current status against the key requirements of the Law, and detailed recommendations on the steps they should take to improve.
Around the world, data privacy has been gaining momentum and importance over recent years, with governments at a global and Middle East level introducing new data privacy laws to protect the individual. The DIFC Data Protection law was introduced to further build upon the Centre’s reputation as a leading global financial centre, whilst promoting ethical data sharing. It is applicable to DIFC-registered controllers and processors of personal data.
The comprehensive self-assessment has been developed in line with PwC’s internationally-established data protection framework, and tailored to the specifics of the DIFC Data Protection Law. The Law has been in effect from 1 October, with organisations subject to fines for non-compliance. The introduction of PwC’s online self-assessment offers DIFC-based organisations an effective solution to inform their response to the law’s requirements.
Jacques Visser, Commissioner of Data Protection at DIFC Authority, commented; “DIFC is committed to continually reviewing its laws and regulations to ensure they align to global best practice and are the most comprehensive in the region. We welcome the introduction of the PwC’s Data Protection Compliance Maturity self-assessment tool, as we are confident it will help Controllers and Processors in the DIFC and beyond meet the new requirements and elevate their reputation within the industry.”
Powered by PwC’s Digital Trust Manager: Assess platform, the online self-assessment uses business intelligence and data visualisation to help organisations take control of their data privacy risks.
Phil Mennie, Partner, Digital Trust, PwC Middle East said: “At PwC, we continually evolve our technical offerings and the way in which we can support our clients. We’re proud to collaborate with DIFC to offer clients a seamless online solution to help them comply with the new Law. Data privacy is an increasingly important area and we are dedicated to help improve the handling of personal data across the Middle East.”
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.
With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 25,000 professionals working across over 2,500 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.